REACHING NEW BEST BUY: LEARNING FROM CHALLENGE & CHANGE UNPRECEDENTED ...

BEST BUY: LEARNING FROM CHALLENGE & CHANGE

BEST BUY'S CORE VALUES

Have fun while being the best Learn from challenge and change Show respect, humility and integrity Unleash the power of our people

HUMBLE BEGINNINGS

GROWTH AND CHALLENGE

1974 Sound of Music moves into new

headquarters in Bloomington, Minnesota.

1966 Richard Schulze and business partner open the

Sound of Music store in St. Paul, Minnesota.

1967 Sound of Music acquires Kencraft Hi-Fi

Company and Bergo Company.

1969 Sound of Music stock trades as a publicly-held

company; three stores open in the Twin Cities area.

1970 Sound of Music hits the $1 million mark in

annual revenues.

1978 Sound of Music operates nine stores in

Minnesota by year end.

1981 A tornado hits the Roseville, Minnesota,

store; Sound of Music responds with a "Tornado Sale," introducing low prices in a "no frills" retail environment. As a measure of the success of the enhanced assortment, stores average $350 in sales per square foot versus an industry average of $150-$200 per square foot.

UNPRECEDENTED GROWTH FORGING NEW PATHS

1993 Best Buy becomes the nation's second-largest

consumer electronics retailer.

1983 Sound of Music board of directors approves

a new corporate name, Best Buy Co., Inc.; Best Buy opens its first superstore in

1994 Best Buy establishes the Best Buy Children's

Foundation to invest in organizations and programs committed to making a difference in the lives of children.

Burnsville, Minnesota.

1985 Best Buy's initial public offering on the Nasdaq

raises $8 million.

1986 A public stock offering raises $33.6 million,

helping finance a 12-store expansion.

1995 Best Buy breaks into Fortune magazine's

annual ranking of America's 500 largest corporations, listed at number 373; Best Buy implements the Standard Operating Platform (SOP), developed to support and manage every aspect of the company's business.

1989 Best Buy unveils a revolutionary "grab-and-go"

store format in a non-commissioned,

1999 Best Buy and Microsoft partner to

cross-promote products.

warehouse-style environment; Best Buy's brand

logo changes to the familiar yellow tag.

REACHING NEW HEIGHTS

2000 Best Buy enters the online retailing business by launching ;

Fortune magazine names Best Buy one of the top 10 performing stocks since 1990; Best Buy acquires Magnolia Hi-Fi (now called Magnolia Audio Video).

2001 Best Buy enters the international marketplace with the

acquisition of Canada-based Future Shop.

2002 Best Buy and Geek Squad join forces; Eight Best Buy Canada

stores open in the greater Toronto area.

2003 Best Buy opens its first global sourcing office in

Shanghai, China, and consolidates its corporate headquarters in Richfield, Minnesota.

2004 Forbes magazine names Best Buy "Company of the Year." 2005 Best Buy acquires AUDIOVISIONS and Pacific Sales.

2006 Best Buy acquires majority interest in

Jiangsu Five Star Appliance stores in China.

2007 Best Buy celebrates the official grand

opening of its first retail store in Shanghai, China; Best Buy acquires Speakeasy, Inc.

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